Shareholders are expected to approve a restructuring plan that will save the group from business rescue, but it won’t end there
Ascendis Health, whose restructuring costs almost rivalled its R303m market value in its year to end-June, looks set to get a nod from shareholders on Monday on a deal from lenders that will probably result in it going private, and possibly ceasing to exist.
Shareholders must decide on a restructuring plan that will result in the group giving up its most profitable assets, leaving it with three businesses in SA: its local consumer brands business, which includes brands such as Solal; its pharmaceutical business; and parts of its medical device business...
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